Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    HC flags fraudulent use of Aadhaar by infiltrators to get Indian citizenship; calls for action
    IVCA Welcomes Consultative Approach on Draft FEMA NDI Rules
    India to be among top 5 Nestle markets in coming years, a major export hub : Global CEO
    Build Credit Awareness with a Free Credit Score Check from Bajaj Finance
    CARD91 Introduces Five-Point Credit Lifecycle Consistency Framework for Credit Line on UPI
    RBI's Proposed Shift from Revolving Credit to Term Loans: SwiffyLabs Lending Platform Already Supports the New Construct
    The US and Canada could pull back from an all-out trade war. It's not clear that they will
    Indian Community in Japan Playing Key Role in Strengthening India-Japan Ties: Commerce and Industry Minister Shri Piyush Goyal
    Union Minister of Commerce and Industry Shri Piyush Goyal Chairs India-Japan Industry Roundtable on Semiconductors and Artificial Intelligence in Toky...
    National Traders’ Welfare Board Holds 100th VC Meeting to Strengthen Engagement with Traders Across the Country
    CCI approves acquisition of 100% share capital of Tao Digital Solutions by Cyient Ltd
    CCI approves acquisition of 100% stake in Kestrel Coal Group Pty Ltd. by Yancoal Australia from certain sellers
    HC bench releases Skoda Volkswagen USD 1.4 billion tax case sans verdict; matter to be heard afresh
    Canada strikes back at US with retaliatory tariffs as trade war escalates
    Rupee rises 26 paise to close at 95.44 against US dollar
    Economy shows resilience to global headwinds with buoyant domestic demand: RBI bulletin
    Goyal promises BIS certification relief for high-tech sector firms
    IICA Conducts inaugural session of 11th Batch of its Certified CSR Professional Programme
    Net Profit of Regional Rural Banks (RRBs) Rises to Record ₹10,176 Crore, Total Business Cross ₹13.5 Lakh Crore in FY 2025-26
    UP Cong chief writes to PM Modi on ethanol policy, sugar prices
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 26, 2026
Show AI Summary
Fraudulent Aadhaar procurement exposes identity-verification gaps and prompts disclosure, expedited investigation, deportation, and statutory review measures.
Fraudulent procurement of Aadhaar and other identity documents by foreign nationals who infiltrate borders may undermine identity verification, immigration control and national security. Coordinated action is required to trace and deport such persons, prevent re-entry, strengthen document verification, and complete investigations without delay. Amendments to the Aadhaar Act are to be considered to assist investigating agencies, while a dedicated procedure is required to address border infiltration and human trafficking. Aadhaar enrolment records are to be supplied to police, followed by timely deportation proceedings.
August 26, 2026
Show AI Summary
Foreign investment liberalisation proposals receive industry support, subject to preserving AIF treatment, grandfathering, and prospective application.
Proposed foreign-investment liberalisation, including treatment of stakes below 10 per cent and a greater role for market forces in valuation, is welcomed. Preservation of the existing treatment of Alternative Investment Funds under the IOCC framework is emphasised, together with grandfathering of transactions and funds undertaken under the current regulatory position. Newly introduced requirements should operate prospectively to support a simpler, predictable and investment-friendly foreign-investment framework.
August 26, 2026
Show AI Summary
India market expansion guides Nestle 's volume-led growth, export-hub development and long-term investment without compromising product quality.
Nestle 's India strategy focuses on volume-led growth, wider consumer reach, portfolio development, efficiency improvements and sustained long-term investment. Growth is intended to combine increased household penetration with pricing, premiumisation, affordability and value offerings. India is also intended to develop further as a production and export hub for global markets, supported by manufacturing capacity and expanding overseas supplies. Product quality and consumer interests remain constraints on the pace of expansion.
August 26, 2026
Show AI Summary
Credit awareness through regular score and report review supports responsible borrowing, error detection, and informed credit management.
Free online access to the Credit Pulse Report is available through the Bajaj Finance website. Users verify their registered mobile number through OTP authentication, provide identifying particulars including PAN and date of birth, and then view the available credit score. The report may be reviewed and downloaded to examine repayment history, active credit accounts, recent enquiries and other recorded credit information. Periodic review can help identify unfamiliar accounts, inaccurate repayment records, overdue amounts, unupdated information and changes in credit utilisation.
August 26, 2026
Show AI Summary
Credit lifecycle consistency requires facility-specific treatment so UPI-linked credit records, repayments and customer obligations remain aligned.
CARD91's Credit Lifecycle Consistency Framework calls for facility-specific treatment of Credit Line on UPI transactions and continuing credit events. Credit limits, outstanding balances, repayments, refunds, reversals and EMI conversions should be accurately connected to the relevant customer account and applied according to the underlying facility's terms. Bank policy, customer consent, transaction controls and portfolio actions should remain aligned. Customer-facing applications, statements and alerts should consistently reflect available credit, outstanding obligations and repayment schedules, while disputes and manual corrections follow documented, reviewable processes.
August 26, 2026
Show AI Summary
Non-revolving credit lines require term-loan structures supporting multiple drawdowns without replenishing sanctioned limits for NBFC lending products.
Proposed restrictions on revolving credit facilities for most NBFCs would generally require credit products to operate as term loans, rather than facilities in which principal repayment automatically restores the available borrowing limit. Compliance may require technology capable of managing multiple drawdowns within an approved sanction, separate repayment schedules, amortisation and servicing workflows, while preventing repaid principal from replenishing the sanctioned limit.
August 26, 2026
Show AI Summary
Reciprocal trade tariffs intensify as negotiations confront market access, cultural protections, industrial safeguards, and sovereignty concerns.
US-Canada tariff escalation involves reciprocal import duties following failed negotiations over market access and trade in dairy, alcoholic beverages, automobiles, steel, aluminium and softwood lumber. United States tariff action relies on a rarely used trade-law power permitting duties against countries considered to discriminate against American businesses, without a prior investigation or stated time limit. Negotiations also raised concerns about protection of major industries, cultural protections and Canada's freedom to conclude trade agreements with other countries.
August 26, 2026
Show AI Summary
Diaspora engagement supports skilled mobility, investment links, remittances, and citizen welfare while encouraging compliance with local laws.
Indian diaspora engagement in Japan supports bilateral goodwill, business links, investment opportunities and people-to-people ties. Skilled Indian professionals are encouraged to understand local requirements, learn Japanese language and culture, and pursue opportunities in healthcare, trades, engineering, artificial intelligence, accountancy and maritime work. Diaspora members are also encouraged to maintain connections with India, contribute through digital education and knowledge-sharing, and comply with local laws and regulations. Remittances and government support for citizens' welfare, safety and crisis assistance abroad are recognised as important aspects of diaspora engagement.
August 26, 2026
Show AI Summary
Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review.
India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
August 26, 2026
Show AI Summary
Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities.
The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
August 26, 2026
Show AI Summary
Competition clearance for full acquisition permits Cyient to acquire Tao Digital Solutions, a global digital transformation and technology services provider.
Competition Commission of India approved Cyient Limited's acquisition of 100% of Tao Digital Solutions Inc.'s share capital from its existing shareholders. The full share capital acquisition transfers complete ownership of Tao Digital Solutions to Cyient. Tao Digital Solutions provides global digital transformation and technology services, including product engineering, managed services, cybersecurity, payments, digitization and AI, cloud services, and data services, and operates in India through its wholly owned subsidiary, Tao Digital India Private Limited.
August 26, 2026
Show AI Summary
Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales.
Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
August 25, 2026
Show AI Summary
Customs classification of unassembled vehicle imports requires fresh hearing after reserved tax challenge was released without verdict.
The dispute concerns customs classification of imported unassembled vehicle parts. Customs authorities allege that parts imported in separate shipments should have been declared as completely knocked down (CKD) units, attracting the higher duty applicable to CKD imports, rather than as individual components subject to lower duty. The manufacturer contests the resulting customs demand. Proceedings have been released for fresh hearing before the regular indirect-tax writ bench, with status quo maintained for four weeks.
August 25, 2026
Show AI Summary
Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
Show AI Summary
Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
Show AI Summary
Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
Show AI Summary
BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
August 25, 2026
Show AI Summary
Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives.
Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.
August 25, 2026
Show AI Summary
Regional rural bank performance highlights improved profitability, asset quality, priority-sector lending, financial inclusion, and digital banking expansion.
Regional Rural Banks achieved prescribed priority-sector lending targets and sub-targets, expanded financial inclusion through new Pradhan Mantri Jan Dhan Yojana accounts, and recorded improvement in profitability, asset quality, and credit-deposit ratio. Digital banking adoption is to be accelerated to improve operational efficiency, customer experience, and banking access in rural and remote areas. Sponsor Banks are expected to strengthen information-technology infrastructure and support increased area-specific credit flows and innovative lending.
August 25, 2026
Show AI Summary
Ethanol-blended fuel policy faces calls for consumer-focused review amid sugar supply pressures and older-vehicle compatibility concerns.
Consumer-focused review of the ethanol-blended fuel policy is sought because higher ethanol diversion may affect domestic sugar availability and prices, potentially requiring sugar imports that could reduce claimed foreign-exchange savings from lower petroleum imports. The review should address ethanol and sugar production, domestic prices, imports, and consumer, environmental and economic concerns. Availability of lower-blend fuel alongside E20 is advocated for owners of older vehicles, with consumer choice between E10 and E20 supporting a comprehensive reassessment.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
News and Press Release

RELEASE OF SUPPLY AND USE TABLES OF 2020-21 AND 2021-22: DETAILED PRODUCT-INDUSTRY INSIGHTS INTO THE INDIAN ECONOMY

July 31, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

The Ministry of Statistics and Programme Implementation (MoSPI) has released the ‘Supply and Use Tables of 2020-21 and 2021-22’. Supply and Use Tables (SUTs) represent a detailed snapshot of all economic activities taking place in the economy. They are powerful analytical tools that present the structure of an economy as well as interlinkages among the various economic actors.

Purpose of SUT

Supply and Use Tables (SUT) serve multiple purposes and have gained prominence due to their statistical robustness and analytical flexibility. They offer a comprehensive framework that integrates the three approaches to measuring Gross Domestic Product (GDP)—production, income, and expenditure within a unified structure. SUT is a very powerful tool for comparing and reconciling data from diverse sources, thereby improving the coherence and consistency between production and expenditure estimates. Compilation of product-wise value of output by different industries, net product taxes, trade and transport margin, import on supply side, and intermediate consumption by different industries, final use, export by products make the SUT more data demanding. These detailed product-level information by industry enables policymakers, researchers, and academicians to undertake granular analysis of the structure, composition and dynamics of the economy.

The SUTs for the years 2020–21 and 2021–22 have been compiled using the estimates of macroeconomic aggregates published in the National Accounts Statistics (NAS) 2024, which provides the Final Revised Estimates for 2020-21 and for 2021-22.

SUT Framework

Supply and Use Tables (SUT) are presented as two interlinked matrices: the Supply Table and the Use Table, structured in a product-by-industry matrix. The Supply Table captures the total supply of goods and services, both from domestic production by industry and from imports. In contrast, the Use Table records the utilization of these products across various components—intermediate consumption by industries, final consumption, gross capital formation, and exports.

The foundation of the SUT framework lies in the product identity, which states that the total supply of a product (from domestic production and imports) must equal its total use (as intermediate consumption, final consumption, capital formation and exports). This identity ensures that all economic flows are accounted for, and thus, SUTs facilitate a coherent and balanced representation of the economy, enabling the three approaches to GDP measurement—production, income, and expenditure—to converge to a single, harmonized estimate.

In the National Accounts Statistics (NAS), GDP estimates derived from the production/income and expenditure sides often differ due to different data sources used for estimation. The resulting difference is published as ‘discrepancy’ on the expenditure side in the NAS. The SUT framework enables the compilers to reconcile and adjust these discrepancies, ensuring consistency between the production/income and expenditure estimates.

Compilation of SUT

The SUT of 2020-21 and 2021-22 has 140 products and 66 industries. These are compiled based on the estimates of macro aggregates published in NAS 2024, survey data like Annual Survey of Industries (ASI), several administrative data sources. The estimates provided in SUT are at current prices and are based on the methodologies in alignment with the United Nations System of National Accounts (SNA).

Preparation of SUT involves four activities: (i) Identification of Industries and Products, (ii) Compilation of Supply Table, (iii) Compilation of Use Table and (iv) Product Balancing. Industries are identified from National Industrial Classification (NIC) of ASI data for manufacturing and Compilation Categories (CC) of NAS for sectors other than manufacturing. Products are identified as per National Product Classification for Manufacturing Sector (NPCMS) and National Product Classification for Services Sector (NPCSS).

The supply table is generally prepared at basic prices as NAS also compiles the output of industries at basic prices. However, to account for the final utilization of the products, the supply table provides mechanism which moves the valuation of products from basic prices to purchasers’ prices as recorded in use table. The compilation draws upon various data sources, including NAS statements, Annual Accounts of Corporations, ASI data, Export-Import (EXIM) database of DGCIS for imports of goods; RBI data for imports of services; CBIC tariff data for import duties.

The use table provides gross value added at basic prices by industries (following production approach) and GDP by deducting imports from final uses (following expenditure approach). Moreover, it also shows the components of value added by industry from income side estimates. The compilation of this information involves analysis of several supplementary data sources specific to each product or industry. Key sources include Cost of Cultivation Studies (CCS), ASI data, Companies data from of MCA and NDE, EXIM data, and data from the Reserve Bank of India (RBI).

Key Highlights

  • Total supply of goods and services at purchasers’ price in the economy is 407.52 Lakh Crore Rs. and 523.08 Lakh Crore Rs. in 2020-21 and 2021-22 respectively.
  • In both years, out of the total supply at basic prices, agricultural goods contributed 11–13%, mining goods 2%, manufactured goods 30–33%, manufacturing-related services 3%, and services from the service sector around 55%.
  • In 2020–21, the top five industries with the highest GVA-to-GVO ratio—ranging from 0.96 to 0.80—were Ownership of Dwellings, Fishing & Aquaculture, Forestry and Logging, Agriculture, and Education & Research. Higher GVA-to-GVO ratio implies better efficiency and value addition within the industry.
  • In 2021-22, Ownership of dwellings, Fishing & Aquaculture, Forestry and Logging, Agriculture & Crude Petroleum are the top five industries with the highest GVA-to-GVO ratio with same range.
  • In 2020–21, five industries with the lowest GVA-to-GVO ratio—ranging from 0.15 to 0.10—were Production, processing and preservation of meat, fish, fruit, vegetables, oils and fats; Manufacture of dairy products; Manufacture of grain mill products & animal feeds; Manufacture of communication equipment; and Other Manufacturing.
  • In 2021-22, five industries with the lowest GVA-to-GVO ratio—ranging from 0.12 to 0.09— were Production, processing and preservation of meat, fish, fruit, vegetables, oils & fats; Manufacture of communication equipment; Manufacture of dairy products; Manufacture of grain mill products & animal feeds; Manufacture of coke & refined petroleum products.
  • Construction accounted for the highest share of total intermediate consumption, contributing 13.82% in 2020–21 and 14.03% in 2021–22.
  • In 2020–21, goods accounted for a larger share of intermediate consumption, constituting 70%, while services contributed the remaining 30%. A similar pattern is observed in Private Final Consumption Expenditure (PFCE), where goods comprised 62% and services 38% of the total PFCE.
  • In 2021–22, goods accounted for intermediate consumption of 72%, while services accounted for the remaining 28%. In Private Final Consumption Expenditure (PFCE), where goods made up 59% and services constituted 41% of the total PFCE.
  • In 2020-21, a discrepancy of (-) 2,46,154 Crore Rs. between the production and expenditure side GDP estimates was addressed by adjusting the expenditure components. This was done by reducing Private Final Consumption Expenditure (PFCE) by 3,05,628 Crore Rs., Change in Inventories (CIS) by 18,897 Crore Rs., and Imports by 78,374 Crore Rs. as part of the CIF adjustment.
  • In 2021–22, a discrepancy of (-) 2,16,579 Crore Rs. between the production and expenditure side GDP estimates was reconciled by adjusting the expenditure components. This was done by reducing Private Final Consumption Expenditure (PFCE) by 3,55,540 Crore Rs., Change in Inventories (CIS) by 1,884 Crore Rs., and Imports by 1,37,081 Crore Rs. as part of the CIF adjustment.

As a forward-looking measure, the Ministry plans to integrate the compilation of the Supply and Use Tables (SUT) with compilation of the Annual National Accounts Statistics in the new series. This integration aims to ensure consistency and coherence across the three approaches to GDP compilation, while also helping to reduce the time lag in preparing the SUT.

The ‘Supply and Use Tables of 2020-21 and 2021-22’ and a Methodological Note on SUT Compilation are available for download on the MoSPI official website at:

https://mospi.gov.in/publication/supply-use-tables.

Topics

Acts Income Tax